, China
197 view s
Photo from Pixabay

Mastercard enables China visitors payment option through WeChat Pay

Inbound cross-border travel to China improved to around 50% of 2019 levels. 

In time for cross-border business travel and sporting events, Mastercard revealed that travellers to China can now link their cards to WeChat Pay (Weixin Pay).

The latest development also allows Mastercard users to fully access WeChat Pay's merchant network within mainland China, offering a secure and convenient way for visitors to make local payments. 

The expanded network covers various categories like dining, transportation, shopping, and accommodation. 

Payments can be made through QR codes, payment codes, Mini Programs, and in-app payments.

ALSO READ: Alipay, Mastercard enables visitors to transact digitally in China

This partnership between WeChat Pay and Mastercard benefits merchants, particularly small and medium-sized enterprises (SMEs), as they gain more opportunities to engage with travellers who now have access to one of the most widely accepted payment methods.

In the second quarter of 2023, cross-border travel remained strong, hitting 154% of 2019 levels, marking a 6% increase from the previous quarter. 

Additionally, inbound cross-border travel to the Chinese mainland improved to around 50% of 2019 levels. 

With upcoming major international sporting events like the Asian Games, the Chinese mainland is looking forward to welcoming even more visitors.

 

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

APAC’s affluent move $700b to digital wealth management
These firms are adopting hybrid models that combine digital tools with limited human assistance.
Vietnam digital bank Cake debuts cloud connect CMS with Visa
It is the first bank to implement Visa Cloud Connect on Google Cloud Infrastructure. 
Cards & Payments
Hong Leong Bank's profit outlook positive amidst SME lending boost
It is projected to maintain tangible common equity at approximately 14% of risk-weighted assets.
Retail Banking
Banks gain 50% more tech capacity with productivity focus
Generative AI tools to streamline tasks can yield productivity gains of up to 30%.
Economy